OzAurum expands Salitre Niobium anomaly ahead of diamond drilling

OzAurum has confirmed a significant niobium discovery at its fully owned Salitre Project in Brazil, with new soil sampling results indicating an anomalous area that now spans over a square kilometer. Initial exploration identified a niobium anomaly extending for more than a kilometer, accompanied by a cluster of ultraviolet (UV) anomalies. Recent follow-up results have expanded this anomaly, revealing peak niobium concentrations of 271 parts per million (ppm) and a total rare earth oxide measurement of 979 ppm.

The findings originate from a region with nine distinct ultraviolet anomalies, which are clustered together and exhibit gamma radiation levels of up to 435 counts per second—an intensity that is ten times higher than background levels. This geochemical data supports an exploration model targeting valuable niobium carbonatite intrusions. Additionally, high field strength soil results have indicated the presence of tantalum, hafnium, and thorium, aligning with the spatial extent of the niobium anomaly.

Andrew Pumphrey, CEO and Managing Director of OzAurum (ASX), expressed enthusiasm about the validation of this initial discovery and its expansion over a square kilometer. He highlighted the strategic positioning of the OZM Salitre and Catalao projects within the Alto Paranaba Magmatic Province, which is responsible for 97% of global niobium production, all sourced from carbonatite intrusions. Pumphrey eagerly anticipates the arrival of their diamond drill rig to test the newly identified anomaly and explore the potential this project holds for shareholders.

The data suggests that the source of the anomaly may be linked to mineralization associated with carbonatite intrusions. This theory is set to be tested through two diamond drill holes planned for the upcoming weeks. OzAurum has a diamond drilling rig and a dedicated crew ready to mobilize, pending the necessary environmental permits and access approval.

Brazil is a major player in the global niobium market, accounting for nearly all of the world's production. The country's 97% share of global output is derived from the fertile carbonatite intrusions found in the Alto Paranaba Magmatic Province. While Australia may soon see niobium exploration activities, with WA1 Resources (ASX) pursuing opportunities in the West Arunta region, OzAurum is focused on exploring resources near Brazil's most prominent niobium mine.

OzAurum has fully acquired the Catalao and Salitre Niobium and Rare Earth Element (REE) Projects, which are in close proximity to the world-leading Araxa mine, responsible for 80% of global niobium production. To further support its exploration efforts, OzAurum commissioned Dr. Neil Pendock, an expert in image processing, to conduct a hyperspectral analysis of the area. Dr. Pendock identified around 100 targets for further investigation, reinforcing OzAurum's confidence in the potential for further niobium discoveries.

The company's niobium sampling campaign has yielded promising results, paving the way for an extensive diamond drilling program aimed at tapping into this crucial steelmaking resource. With the ongoing advancements and positive findings, OzAurum is well-positioned to capitalize on the growing demand for niobium, a critical component in steel production.